LitStake
Liquid staking protocol.
LitStake is a liquid staking protocol on LitVM. Listed in the official directory as a liquid staking protocol, the project allows users to deposit zkLTC into a staking vault in exchange for stLTC, a liquid receipt token. According to its website, stLTC acts as a yield-bearing asset where rewards accrue directly into the token's exchange rate rather than through balance rebasing. The site indicates a simulated 5.00% APY on testnet and notes that stLTC is designed to be traded, lent, or deployed as collateral across decentralized finance applications on the network. Users can burn their stLTC tokens at any time to redeem their underlying zkLTC alongside accrued staking rewards.
Questions
- What token do users receive when staking with LitStake?
- Depositing zkLTC into the LitStake vault mints stLTC, a liquid yield-bearing receipt token issued at the current protocol exchange rate.
- How does LitStake distribute staking yield?
- According to the project's site, yield accrues directly to the stLTC exchange rate, meaning the value of stLTC relative to zkLTC increases over time until redeemed.